Saturday, November 8, 2014

U.S. Creates 214,000 Jobs In October; Unemployment Rate Falls To 5.8 Percent

Well, the midterm elections were a disaster so here's a little bit of good news for everyone.

It turns out in this "horrible" Obama economy the U.S. economy added 214,000 jobs in October. 

And if that wasn't enough the Bureau of Labor Statistics reported that the unemployment rate fell to 5.8 percent! If you're counting that is the lowest rate since July 2008.

In addition the Labor Department also said a combined 31,000 more jobs were added in August and September than it had previously estimated. Employers have now added at least 200,000 jobs for nine straight months — the longest such stretch since 1995. 

More good news... Okay! Analysts say the economic expansion remains strong enough to support the current pace of hiring. Over the past six months, the economy has grown at a 4.1 percent annual rate.

Plus, according to a survey by the Institute for Supply Management, U.S. manufacturers are expanding at the fastest pace in three years.

And here's some bonus good news just for reading this far... Home sales rose in September at their fastest rate this year, a sign that housing could pick up after a sluggish performance for most of this year.

 So let's get this right...

Just three days after voters identified the economy as their top concern in Tuesday's elections, the government extending the healthiest pace of hiring in eight years... Go figure?

1 comment:

  1. Unemployment has consistently fallen under Democratic presidents and fairly consistently risen under Republican presidents going back decades- http://politicsthatwork.com/graphs/unemployment-rate-by-president

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